MYTH 1: Successful brands know what they are doing
Conventional thinking says that when a company is successful, they must be doing something right. There is even a tendency for those in startups to idolise incumbent brands. It is understandable; doing something new is scary, and when you are just getting started, it is easy to let self-doubt creep in and second guess your original thinking. Once a company founder told me, “Our main competitor has a lot of brilliant people working for them. Don’t you think if our new idea were that good, they would already be doing it?”
The truth is, established brands are too often overwhelmed—getting lost in execution and spending much of their time putting out fires instead of dreaming about the future. Sometimes, big brands are just complacent and not hungry anymore. Almost always, incumbent brands are slow to react to evolving consumer needs. Brands that have been around for a long time are usually anchored down to their existing infrastructure and legacy systems. Being heavily invested in yesterday’s technology makes expensive change unattractive. That is why you cannot assume successful brands always know what they are doing. Successful brands often conveniently overlook new opportunities that then leave openings for new brands to come along and fill.
MYTH 2: Emerging market consumers aspire to be like those from developed markets
Diese Geschichte stammt aus der July 2020-Ausgabe von Indian Management.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der July 2020-Ausgabe von Indian Management.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Trust is a must
Trust a belief in the abilities, integrity, values, and character of any organisation is one of the most important management principles.
Listen To Your Customers
A good customer experience management strategy will not just help retain existing customers but also attract new ones.
The hand that feeds
Providing free meals to employees is an effective way to increase engagement and boost productivity.
Survival secrets
Thrive at the workplace with these simple adaptations.
Plan backwards
Pioneer in the venture capital and private equity fields and co-founder of four transformational private equity firms, Bryan C Cressey opines that we have been taught backwards in many important ways, people can work an entire career without seeing these roadblocks to their achievements, and if you recognise and bust these five myths, you will become far more successful.
For a sweet deal
Negotiation is a discovery process for both sides; better interactions will lead all parties to what they want.
Humanise. Optimise. Digitise
Engaging employees in critical to the survival of an organisation, since the future of business is (still) people.
Beyond the call of duty
A servant leadership model can serve the purpose best when dealing with a distributed workforce.
Workplace courage
Leaders need to build courage in order to enhance their self-reliance and contribution to the team.
Focused on reality
Are you a sales manager or a true sales leader? The difference, David Mattson, CEO, Sandler® and author, Scaling Sales Success: 16 Key Principles For Sales Leaders, maintains, comes down to whether you can see beyond five classic myths that we often tell ourselves about selling.
